According to the National Treasury Cabinet Secretary(CS) Njoroge Ndung'u, Kenyans have borrowed Kes30.8 billion from the Hustler Fund since its launch late last year.
During yesterday's reading of the 2023-2024 Financial Year budget in Parliament, the CS noted that 43.3 million transactions have been made from the fund.
“So far, 16.07 million, of which 7.1 million are repeat customers, have accessed the fund”, Ndung'u said.
The CS also noted that Kenyasns have saved Kes1.5 billion in the Hustler Fund on a mandatory basis while Kes17 million has b been saved voluntarily.
The hustler fund, launched by President William Ruto, intends to address unemployment and the lack of possibilities for low-income workers through accessible credit.
Did you read this?
Therefore, its inclusion in the budget informs a stepped-up effort by the government to provide loans targeted at the MSME sector.
Many registered customers in the hustler fund database point to the dire need for capital among Kenyans, a situation the government is set to grapple with even as it unveils its maiden budget.
Further, the CS revealed that the government has invested Kes 11 billion in the fund.
The National Treasury Njuguna Ndungu said while reading the 2023-24 financial year budget at the National Assembly.
